China shrimp prices expected to increase as typhoon hits farms in Pearl River Delta

Farmed warmwater shrimp. Photo: Undercurrent News

A typhoon has hit main shrimp aquaculture regions of China's Pearl River Delta (PRD) region hard. With a reduction of shrimp, prices are expected to rise later this year.

China’s shrimp price index is reported to be 121.24 points on Aug. 23. It has decreased 0.39% (0.48 points) from the last statistic date, Aug. 16, and the farm gate price is CNY 25.08/jin ($7.68/kg) on average for those at the size of 40 shrimp/jin (80 shrimp/kg). It declined by CNY 0.1/jin.

Pearl River Delta region

Several cities in the PRD region have been influenced by the typhoon recently. Traders have stopped buying shrimp in such places as Zhuhai and Zhongshan, while some farmers in cities like Jiangmen have sold shrimp in time, shortly before the typhoon.

The typhoon has done damage to shrimp ponds in Zhuhai and Jiangmen and the shrimp output has declined. According to a prediction from some market observers, shrimp prices are likely to skyrocket later this year because shrimp have been in shortage in this region for a long time and there is further a reduction in supply coming. 

Western Guangdong

Shrimp prices have declined about CNY 1-2/jin ($0.30 to $0.60/kg) in Zhanjiang recently.

Continual high temperatures is one of the main reasons. Some shrimp are exposed to the white feces syndrome in hot weather, so farmers decide to sell in advance. Another reason is that the mid-round shrimp have mostly been sold between late August and the early September in Zhanjiang. 

Guangxi, Hainan

Guangxi shrimp prices have been on the rise. They have risen about CNY 1-1.5/jin ($0.30 to $0.45/kg). This is likely due to disappointing shrimp aquaculture output there this year and long-term shrimp shortage.

Fujian

Shrimp prices have slid in Fujian due to diseases. This situation is caused by farmers’ carelessness in pond cleaning before they stock this round of seed. Shrimp are more prone to diseases in high temperatures and when the pond bottom environment has worsened. 

Yangtze River Delta region

Shrimp has flooded into the markets of Xiaoshan and Zhejiang since July. The market performance has been better this year and aquaculture is more profitable for farmers. Prices are comparatively stable for large shrimp in late August, while those of the small sizes has risen about CNY 1/jin ($0.30/kg).

Northern China

The prices of large shrimp have increased in Shandong and it is as much as CNY 3/jin ($0.92/kg) in some places, due to scarcity. Prices are expected to rise further, because the weather may lead to diminishing of large shrimp, said some insiders. The prices, overall, are stable in Hebei with a balance between supply and demand.